Payments as a Service Tracker: Beacon Of Hope For UK Merchants?

Full-service payments technology is going worldwide.

From the U.S. and Canada to the U.K. and South Africa, companies are introducing several new Payments as a Service (PaaS) solutions that are changing how consumers pay for goods and services and how businesses reach their patrons. For example, Microsoft Dynamics 365 users in Canada will be the first to gain access to Verifone’s PaaS solution, Verifone Point, and further south, Mastercard teamed with telecom company Vodacom to open the South African market to the Masterpass payment option.

Meanwhile, in the world of jewelry, retailer Helzberg Diamonds is teaming with NCR Corporation to monitor its payment security and bank card transactions across its network of stores. And, in the health care sector, physician billing services provider Zotec Partners achieved a certification requirement that ensures its security practices are current.

A beacon of help for merchants

For U.K. hospitality companies, there may no longer be such a thing as “business as usual.”

As new full-service payment solutions solutions like beacon technology hit the market, they’re upending the way merchants operate. To find out more on how this new tech is changing the game for smaller businesses, PYMNTS recently caught up with Lee Nazari, CEO of SWOOPOS, a provider of payment solutions for restaurants and retail and hospitality merchants.

Nazari told PYMNTS that beacon technology is allowing merchants to provide their customers with personalized solutions and proximity-based technology. He also explained how merchants can use the technology to create promotions based on specific criteria and why some smaller businesses are hesitant to sign on with newer payment solutions.

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To download the January edition of the PYMNTS.com Payments as a Service Tracker, click the button below…

About The Tracker

The PYMNTS.com Payments as a Service Tracker is designed to give an overview of the trends and activities of merchant platforms that not only enable payment processing of new and old technologies but also integrate with other features to improve the merchant’s experience, including customer engagement, security, omnichannel retail, analytics, inventory management, software and hardware management and more.